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i'm wondering why in terms of a growing economy you talk about consumption instead of production. that's what it seems like to me. >> i do. because in order to be able to raise price you need demand. if there's a shortage of supply, sure, that can mean something. but not if there's no demand, right? if you have a shortage of a supply at some product nobody likes you can't raise price. it doesn't mean anything. that's why we focus on demand on the show. a company that's got their earnings stars before you buy it. use the eps to figure out the company's growth rate and take it from there. "mad money" will be right back. >> don't miss a second of "mad money." follow @jimcramer on twitter. have a question? tweet jim cramer #madtweets. or give us a call at 1-800-743-cnbc. miss something? head to "mad money".cnbc.com. madmoney.cnbc.com. >>> welcome back to "mad money" special earnings season companion show. how not to be overwhelmed by earnings reports and put them in perspective so you can profit from them in an informed and confident way to make money at home. we just went over how i
i'm wondering why in terms of a growing economy you talk about consumption instead of production. that's what it seems like to me. >> i do. because in order to be able to raise price you need demand. if there's a shortage of supply, sure, that can mean something. but not if there's no demand, right? if you have a shortage of a supply at some product nobody likes you can't raise price. it doesn't mean anything. that's why we focus on demand on the show. a company that's got their earnings...
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>> well, my core metaphor in describing the economy and the interaction of the economy and society is rain forest. and when we go to the rainforest, whether it's the pacific northwest or the amazon, you have a sense of life all around you become like city's independent phase of life. a rain forest is a self-regulating when was the we put regulations incumbent government regulations, that's a part of self-regulation spirit of the self-regulating cells and career goals for ourselves, that self-regulation. their scarce resources, competitions like the rain forest. but the main thing that keeps the rain forest by brent is that you have the canopy coming in outcome and the u.s. economy would be good big firms coming ge, gm, wal-mart, all that. and then he got small business, but it's the small and growing. it's sickening that were small and can challenge the date and what happens in the big tree falls over. again, the amazing thing is new trees grow right out of the old trees. that is a metaphor, but it's real. because i'm really something big in the economy, it's vital we know how to reco
>> well, my core metaphor in describing the economy and the interaction of the economy and society is rain forest. and when we go to the rainforest, whether it's the pacific northwest or the amazon, you have a sense of life all around you become like city's independent phase of life. a rain forest is a self-regulating when was the we put regulations incumbent government regulations, that's a part of self-regulation spirit of the self-regulating cells and career goals for ourselves, that...
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i mean, we've seen a terrible economy over the last few years. and the last decade is now being called "the lost decade" because there was no growth in middle incomes, there was no -- there was an increase in the share of americans without health insurance. more people were poor, so therel was a terrible ten years but we were actually looking at the last 30 years and seeing that thei cle class had only gotten ahead to the extentle that it h because of milies working more urs. so this is a story that isn't the top t those at doing much, much better, but is, also we found, a story aout those in the middle not getting ahead, often falling behind in important ways. failing to have the same kinds ofpportunity and economic security that theypp once had. >> let's take a look at just how dramatic the inequality is. i am not a student reader of charts but this one did hit me. what you are saying with that chart. >> it says, how much did people at different points on the income ladder earn in 1979 and how much did they earn in 2006, after adjusting for inf
i mean, we've seen a terrible economy over the last few years. and the last decade is now being called "the lost decade" because there was no growth in middle incomes, there was no -- there was an increase in the share of americans without health insurance. more people were poor, so therel was a terrible ten years but we were actually looking at the last 30 years and seeing that thei cle class had only gotten ahead to the extentle that it h because of milies working more urs. so this...
WHUT (Howard University Television)
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Nov 3, 2012
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for women it is the economy. we have four years of what president obama has put out there. he's been the president, he's been our leader. and today with the new jobs report 7.9% this is not the new normal. we cannot have unemployment. the president told us that after he put in the stimulus we'd down to 5.6% unemployment. where is that? >> correction. the number of jobs exceeded what had been predicted and you are going to have the unemployment rate to tick back up a little bit. every time the economy looks good more people go on -- >> last -- >> 23 million unemployed. >> last word on this topic then on to the ground game. >> one of the greatest issues of our time, right now in our age, mitt romney has come out squarely on the side of greater income and equality stratification between very wealthiest and majority of people in this country. i think another piece that gloria stein ham noted that the pay tax -- women get equal pay in the workplace that we close that wage gap consistently 77% would be automatic economic stimulus. more than three quarters voters support that. mit
for women it is the economy. we have four years of what president obama has put out there. he's been the president, he's been our leader. and today with the new jobs report 7.9% this is not the new normal. we cannot have unemployment. the president told us that after he put in the stimulus we'd down to 5.6% unemployment. where is that? >> correction. the number of jobs exceeded what had been predicted and you are going to have the unemployment rate to tick back up a little bit. every time...
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social net as a percentage of the economies. europe's economy is in recession. the u.s. is still growing. maybe that's proof that our cut-throat version of capitalism works despite the social costs. >> one of the reasons the american economy is now growing is the government has done substantial stimulus spending whereas one of the reasons that europe is in such bad shape is that they have actually been cutting government spending from their former baseline, so, in fact, in the past couple of years, the trends have been -- have been opposite what they have been for 30 years. the europeans have been much more austere, you know, countries like britain cutting government spending whereas in the united states there was a big effort, which is now sort of like dwindling, but there was initially a very big stimulus effort. >> just 30 seconds left, the fundamental issue here is americans want the benefits of big government, medicare, social security, jobless checks when they need it, loans to buy a house, loans to go to college, but they also want small government, and that small
social net as a percentage of the economies. europe's economy is in recession. the u.s. is still growing. maybe that's proof that our cut-throat version of capitalism works despite the social costs. >> one of the reasons the american economy is now growing is the government has done substantial stimulus spending whereas one of the reasons that europe is in such bad shape is that they have actually been cutting government spending from their former baseline, so, in fact, in the past couple...
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applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the president you work for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies very similar to what mitt romney is proposing, they actually added more than 1 million fewer private sector jobs if george bush's first term than president obama has under his first term so i really do not think that the basic economics or the history says that just going back to deregulation and high rate-- high income rate cuts is the thing that leads to growth. >> brown: and do you think professor -- >> two decades of strong growth, we saw two decade, 80ous and 90s with extraordinary growth. economists called it the great moderation long boom and that's because the stable policies are put in place. tax re
applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the president you work for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies...
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they actually shrink their economy. they go into recession, and their debt or deficit becomes a bigger problem as as the overall economy. >> eliot: i want to take snippets of this conversation and send it to every voter, and that would be a guarantee that there would an second term for president obama. previews of uc berkeley goldman school of public policy. as always, thank you. >> thanks. >> eliot: dennis kelleher president and ceo of better markets, nonpartisan organization promoting public interestage financial reform. den, you heard robert reich who has not gotten enough attention that is important that that we need to focus on. >> the most important number to talk about outside of the political context. it's a long-term problem for the economy, for the middle class. the increase in unemployment is purely the affect of more looking for jobs. i would have talked about how i'm going to get more manufacturing jobs and wage stagnation instead of this good signal of getting people back to work. >> eliot: it has struck m
they actually shrink their economy. they go into recession, and their debt or deficit becomes a bigger problem as as the overall economy. >> eliot: i want to take snippets of this conversation and send it to every voter, and that would be a guarantee that there would an second term for president obama. previews of uc berkeley goldman school of public policy. as always, thank you. >> thanks. >> eliot: dennis kelleher president and ceo of better markets, nonpartisan organization...
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economy's health ahead of tuesday's election. so, james, is this going to affect the campaign much, do you think? >> i think it does, i think it confirms that president obama's economic policies have failed on their own terms, that we still officially have a lousy economy and more than 12 million people unemployed, it's 23 million, if you count the people who are working part-time because they can't get full-time work, people who quit. so, yes, if this is a referendum on his economic policy with it. >> i know you wanted to get a point in here before i interrupted in the first segment about that. >> this is that we talk about the distortions of the ad, the bigger whopper that the president is telling on the campaign trail in the first clip where he basically says deregulations and tax cuts of the bush years caused the crisis and now mitt romney is going to do them again. there was no deregulation in the bush years. it's a myth that he's been perpetrating for years and any of the tax cuts caused the financial crisis, that's why leh
economy's health ahead of tuesday's election. so, james, is this going to affect the campaign much, do you think? >> i think it does, i think it confirms that president obama's economic policies have failed on their own terms, that we still officially have a lousy economy and more than 12 million people unemployed, it's 23 million, if you count the people who are working part-time because they can't get full-time work, people who quit. so, yes, if this is a referendum on his economic...
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the economy, the economy, the economy. and that is partially true, right? but you can be the brightest economic business mind on the planet and if you run for office and you say i kick puppies in my spare time, i like adolf hitler, i hate black people, people aren't going to vote for you. i think what a lost the men in the gop underestimated is in the eyes of a lot of americans, making crazy insulting comments about rape falls along those lines and they won't for candidates even if the economy is the number one issue and they're making these crazy comments. >> michele bachmann had a hard time splitting away from richard mourdock's comments. >> because she agrees with him but doesn't want to say that out loud because she sees what happens when you say that out loud. they can't get away from this issue. it has become the albatross around the neck of every republican candidate and that's what we're seeing. voters don't compare for hypocrisy. one republican congressman we didn't hear mentioned is scott dedarlis. i may be mispronouncing his name, the pro-life te
the economy, the economy, the economy. and that is partially true, right? but you can be the brightest economic business mind on the planet and if you run for office and you say i kick puppies in my spare time, i like adolf hitler, i hate black people, people aren't going to vote for you. i think what a lost the men in the gop underestimated is in the eyes of a lot of americans, making crazy insulting comments about rape falls along those lines and they won't for candidates even if the economy...
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applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the president you work for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies very similar to what mitt romney is proposing, theyic if one or e other is elected. >> right. you know, i was in the white house for a while and i used to joke, i crawled all around in the basement, i have yet to find that switch down there that you just flip it and then everything gets better. i think 90 plus percent of what happens in a growing economy has nothing to do with washington. what the president and what washington in general can do is try to set the stage and set a groundwork for policy at could encourage growth. and i think the shorter term that you are thinking about, the less can be done spec
applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the president you work for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies...
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was there reason for me to be in debt good evening of all the time bombs on the american economy set to explode with dire consequences this is a big one staggering debt from student loans everyone is told a college education is a way to get ahead college tuitions though keep going up so does the borrowing and we just hit an awful milestone our nation's combined student loan debt has now hit . one trillion dollars that averages out to twenty four thousand per student it's now larger than credit card debt in this country and it comes just as an entire generation is just starting out i have to. thank. god. i. think that a year ago anybody would have predicted that. november of two thousand you would have. people out of the streets in new york city. because something is we journalists. oh. we'll do whatever he has so many. people might be on a global stage with affordable education. teligent justice that there is in fact the whole student loan debt credit card debt when congress raises the loan limits schools respond to those increased loan limits by raising tuition because they think th
was there reason for me to be in debt good evening of all the time bombs on the american economy set to explode with dire consequences this is a big one staggering debt from student loans everyone is told a college education is a way to get ahead college tuitions though keep going up so does the borrowing and we just hit an awful milestone our nation's combined student loan debt has now hit . one trillion dollars that averages out to twenty four thousand per student it's now larger than credit...
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the last thing we need, victor, as this economy is in a very, very fragile state. the good news here is typically when you have an event like this, things do turn around. it's not like the massive financial deleveraging process that we've been going through as an economy overall since 2008. that's a very different systematic problem. right now we're dealing with a temporarily halt which should then result in more spending after the fact. but that doesn't change the fact, victor, that this is going to be a very difficult time. you know, this is really the last thing this economy needs right now as it's trying to mend itself. >> we just got that job's report on friday. 171,000 jobs added. the labor department said the impact of sandy was not factored into that calculation. what do you think we'll see moving into the november numbers and december numbers because of the closed businesses? are are we looking at, you know, a loss of jobs? are we looking at justeven? >> we are adding jobs to this economy. 171,000, when i heard that number, it nearly knocked me off my feet
the last thing we need, victor, as this economy is in a very, very fragile state. the good news here is typically when you have an event like this, things do turn around. it's not like the massive financial deleveraging process that we've been going through as an economy overall since 2008. that's a very different systematic problem. right now we're dealing with a temporarily halt which should then result in more spending after the fact. but that doesn't change the fact, victor, that this is...
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applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the presidnt you wk for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies very similar to what mitt romney is proposing, they brief last word on that? >> well, i think as we are talking about four years what is going to happen the next four years. that say time where a president can make a tremendous difference. and we're talking about the past four years. and the president could have made auch betr policy with the unemployment being so high. >> brown: all right, john taylor and austan goolsbee, thanks so much. >> thank you >> brown: and if you're ready for more analysis on the jobs numbers, you'll find it, as always, on paul solman's "making sense" page online. >> woodruff: still to
applying basic economie economies-- economics we could do a lot better. >> brown: austan goolsbee, dow want to comment on what the presidnt you wk for has done. >> i will just say is we can agree on the basic economics but i think professor taylor has his history a little backward on that. in the 1990s bill clinton raised exactly the high income tax rates that barack obama wants to return the rates to. and the 2000s which he did not mention when george bush followed the policies...
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economy hadthe will be been locked. nonetheless the last couple of weeks of the campaign, you have to say there have be a series of events thatri helped the president, none of which hugely cons consequence but that would be the colinpowell endorsement, the blockberg em dors am, the jobs numbers, a series of things that have gone the president away. if you look at the polling there has been a slide move nationally, rock solid wins or not wins but leads in the swing states and then the final thing, and this is something you should really look for in a re-elect rate, what's the president's job approval numbers. that's something that is just a very goodus indicator. and i looked this morning, and it was 49.5 or so i if you average a bunch of polls together. that's good enough, that's putting him very close to be good enough to win >> woodruff: under 50%. >> it's under 50 but george w. bh was more or lessh around there when he got re-elected. so it is possle to wle with a 49 plus job approval. >> woodruff: how do you see it?
economy hadthe will be been locked. nonetheless the last couple of weeks of the campaign, you have to say there have be a series of events thatri helped the president, none of which hugely cons consequence but that would be the colinpowell endorsement, the blockberg em dors am, the jobs numbers, a series of things that have gone the president away. if you look at the polling there has been a slide move nationally, rock solid wins or not wins but leads in the swing states and then the final...
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at the top of mind for everybody. >> it really was the economy. and ohio is a little different, because there has been good news on the employment front. and so for a while there, there is sort of this tug of war, is the governor responsible for it? or is it something that has been the benefit of the president's administration. so there is good news there. you still have people getting laid off and people really struggling to make ends meet. so you know, this is a great place to live and it is going to be a great place to watch the election. because there is a little -- it is a microcosm of the country. >> reporter: and it will be interesting to watch. to get that many people, 80% of the electorate vote, are registered to vote. that is unbelievable, you don't get that high of a percentage pretty much anywhere. >> right, and you know, franklin county will be critical. you showed hamilton, it went for obama in 2008. so a lot to watch in ohio on election day. >> reporter: it is good to see you. >> great to see you. >> reporter: it is a small business
at the top of mind for everybody. >> it really was the economy. and ohio is a little different, because there has been good news on the employment front. and so for a while there, there is sort of this tug of war, is the governor responsible for it? or is it something that has been the benefit of the president's administration. so there is good news there. you still have people getting laid off and people really struggling to make ends meet. so you know, this is a great place to live and...
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the economy. of course, that will be the deciding factor in the election on tuesday. finally, i think i've covered this economic deal today fairly and my prediction of yesterday that the mainstream media, which overwhelmingly supports president obama's re-election, will use the last few days to bolter mr. obama looks to be on track. but i want to know what you think about the factor's election coverage analysis. we are asking in a new billoreilly.com poll. do you believe the factor has been fair covering the election? do you believe the factor has been fair covering the election? yes or no. and we will give you the results on monday. that's a memo. now the top story tonight, let's bring in the aforementioned economic guru, lou docks. and you say? >> i say unemployment right now is higher than when president obama took office in 2009. and that's not good enough to be of any significant, in my opinion, any significant help to gov. romney. and that is 23 million people without work, who are working w
the economy. of course, that will be the deciding factor in the election on tuesday. finally, i think i've covered this economic deal today fairly and my prediction of yesterday that the mainstream media, which overwhelmingly supports president obama's re-election, will use the last few days to bolter mr. obama looks to be on track. but i want to know what you think about the factor's election coverage analysis. we are asking in a new billoreilly.com poll. do you believe the factor has been...
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the economy. the president was right the other day when he said he can't change washington from the inside. we're going to take him at his word and heel be outside washington soon. [applause] now if i'm elect -- when i'm elected president -- [applause] i'm going to work with republicans and democrats in congress. i'm going to meet regularly with their leaders. i'll endeavor to find those good and men and women on both sides of the aisle who care more about the country than about politics. together we're going to put the nation on track to a balance budget, to reform our tax code and to finally reaffirm our commitment to financial responsibility. it's got to happen. [applause] now you know if the president were to be re-elected, heed continue his war on coal and oil and natural gas. heed spend billions of more dollars to his favorite companies and this would guarantee higher prices at the pumps and fewer jobs. today gasoline cost twice as much as when president obama was elected. when i'm elected w
the economy. the president was right the other day when he said he can't change washington from the inside. we're going to take him at his word and heel be outside washington soon. [applause] now if i'm elect -- when i'm elected president -- [applause] i'm going to work with republicans and democrats in congress. i'm going to meet regularly with their leaders. i'll endeavor to find those good and men and women on both sides of the aisle who care more about the country than about politics....
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this is pathetic. 1.2% growth, 2% growth for our economy our size. the president of the united states promised us growth two or three times this and told us if he didn't get it he wasn't going to run for are reelection. based on his own analysis of himself this has been a failure. this is an anemic recovery with policies holding back the ability of this economy to really recover. is why i so strongly support mitt romney. the policies he has put into effect will allow our now recover. it is trying to recover and the policies are barack obama are holding back be that recovery. >> the controversy of governor chris christie. some said he should redeclare his support for governor romney prior to tuesday. do you think that is important? would you like to see that? >> no, i know who chris supports. he supports mitt romney. i understand what happens when the president came there. the reality is the president did in the first couple of days of hurricane sandy the president did keep his eye on the ball and did h help, new jersey, and new york and elsewhere. la
this is pathetic. 1.2% growth, 2% growth for our economy our size. the president of the united states promised us growth two or three times this and told us if he didn't get it he wasn't going to run for are reelection. based on his own analysis of himself this has been a failure. this is an anemic recovery with policies holding back the ability of this economy to really recover. is why i so strongly support mitt romney. the policies he has put into effect will allow our now recover. it is...
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we have to have an economy. lots of people have come here. it is a great event for new york, and i think for those who were lost, you have got to believe they want us to have an economy and have a city go on for those that they left behind. >> many new yorkers are struggling to cope in the storm's aftermath. a fuel shortage is causing long lines at gas stations, and many areas will have to wait several days for power, but the mayor says resources will not be diverted from those in need because of the marathon. >> tension is growing in the u.s. ahead of next week's election, but is it having an influence on the markets over here in germany? our correspondence sent us this report from the frankfurt stock exchange. >> the last unemployment numbers before the presidential election in the u.s. have been noticed all over the world at the financial markets. numbers have been mixed. the unemployment rate went up slightly, but which was more important? the number of the newly created jobs went up higher than expected. this gave a boost also to german
we have to have an economy. lots of people have come here. it is a great event for new york, and i think for those who were lost, you have got to believe they want us to have an economy and have a city go on for those that they left behind. >> many new yorkers are struggling to cope in the storm's aftermath. a fuel shortage is causing long lines at gas stations, and many areas will have to wait several days for power, but the mayor says resources will not be diverted from those in need...
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showing how listless the economy is. and the labor department showing two green arrows, while 171,000 jobs were created last month. the other green arrow seems to be the problem that the unemployment rate went up to 7.9%, fair and balanced, angela mcglowan and former spokesman for howard dean's campaign. thank you ladies for being here, welcome. >> thank you for having us. >> uma: angela, let me begin with you about the jobs report. the fact that we have added more jobs is a hopeful sign, but for many people it's too little too late. >> you're exactly right, uma, a little too little, too late from the standpoint when people go to the polls, are you better off today than you were four years ago, and with women, the unemployment rate has gone up. amongst blacks in september the unemployment rate in the black community was 13.4%, and uma, now it's at 14.3%, in the hispanic community it's increased and i can go on and on and on and the reason why mitt romney has closed the gender gap with president obama amongst women becaus
showing how listless the economy is. and the labor department showing two green arrows, while 171,000 jobs were created last month. the other green arrow seems to be the problem that the unemployment rate went up to 7.9%, fair and balanced, angela mcglowan and former spokesman for howard dean's campaign. thank you ladies for being here, welcome. >> thank you for having us. >> uma: angela, let me begin with you about the jobs report. the fact that we have added more jobs is a hopeful...
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the state has a very complex economy. here's some of what we've been hearing from voters on this trip. >> just a lot of depressed areas. a lot of joblessness. >> just looking at the unemployment rate, it's so scary to me. >> the last four years has not been very good for our small business. >> with the debt crisis, our country has, that burden is going to be on us in the future. >> all of the skills i had are obsolete now. >> i'm not up at the white house. i don't see rich people all the time. i see a lot of poor people. >> shut down, closed, reduced wages, ship the jobs overseas. we lost 55,000 factories. >> we're probably never have the things that we did 30, 40 years ago. >> balance the budget. we keep spending more and more. somewhere along the line it's going to come back and haunt us. >> they didn't plan for us. now we have to clean up the mess that they made. >> john avalon joins me now. we have been on that bus from florida through north carolina, through virginia, through and into ohio. the economy is number one
the state has a very complex economy. here's some of what we've been hearing from voters on this trip. >> just a lot of depressed areas. a lot of joblessness. >> just looking at the unemployment rate, it's so scary to me. >> the last four years has not been very good for our small business. >> with the debt crisis, our country has, that burden is going to be on us in the future. >> all of the skills i had are obsolete now. >> i'm not up at the white house. i...
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we keep hearing economy and economy and romney is a business guy and he ran this bain capital and he was a job creator which he really wasn't. we've heard in the media all along. i know there is paranoia that the left wing media is in the tank for obama and never tells the truth about romney. romney, i don't know what he stands for but i could understand why those polls b around the media narrative. >> all those folks that work at staples, their jobs were not created by mitt romney? >> mitt romney was a flipper. he was a venture capitalist. he would buy companies and get rid of them. >> media's focus on the economy led the washington post to do a huge article on the alleged bullying in 1965 while ignoring president obama's policies he wrote about himself. the laser focus has him. >> "new york times" writing a whole piece on women binders. >> i haven't heard anything but about the economy. >> mitt romney holding a gay down and cutting off his hair. >> because it was 30 years ago or 50 years ago. >> and bring up making fun of a blind teacher and having him walk in door and thinking tha
we keep hearing economy and economy and romney is a business guy and he ran this bain capital and he was a job creator which he really wasn't. we've heard in the media all along. i know there is paranoia that the left wing media is in the tank for obama and never tells the truth about romney. romney, i don't know what he stands for but i could understand why those polls b around the media narrative. >> all those folks that work at staples, their jobs were not created by mitt romney?...
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the question's about the economy. i guess i'm not sure who mentioned it, but, yeah, i guess that the roles, more conservative on fiscal spending and, tim, you believed liberals are more, i guess, you believe in that the economy fall and deals itself. i know this sounds crazy, but, you know, i remember reading something about there's a top, i think -- maybe 5% of the world, of the wealthy somehow -- okay, they consume -- okay. let me put it in the right words. yeah, they consume 30% of all the revenues that are actually going into gdp or the economy, and -- okay, they consume 40% of the pocket and 50% they spend. there's actually, you know, they do somehow stimulate the economy. i heard something -- tim said somewhere about, you know, nobody's -- like, everybody's holding on to what they have. i believe, like, that's, like, enough, you know, wealth, enough wealthy people to stimulate the economy, but there's no reason to do it because it's not possible for those individuals, and i felt, like, in this kind of situations
the question's about the economy. i guess i'm not sure who mentioned it, but, yeah, i guess that the roles, more conservative on fiscal spending and, tim, you believed liberals are more, i guess, you believe in that the economy fall and deals itself. i know this sounds crazy, but, you know, i remember reading something about there's a top, i think -- maybe 5% of the world, of the wealthy somehow -- okay, they consume -- okay. let me put it in the right words. yeah, they consume 30% of all the...
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we know that the election is about the economy. it is about, you know, two different visions in terms of an obama plan that basically suggests raising taxes on the wealthy, you know, to lower the deficit and romney plan that suggests tax reform that ultimately will produce higher growth. you know, i'm not so sure that either one of those have been detailed specifically so that voters understand, but, nonetheless, that's what tuesday is all about. >> earlier this week, bill, you spoke to cnbc and you sounded a litt little, let's say, jaded about the election. let's listen to what you said and then we'll talk about it on the other side. >> we spent $5 billion on this election for what? to prove that it's a government of the superpac by the superpac for the superpac to prove that basically who wins at this point we'll be at four years in the future. but let's look to something different as opposed to this red and blue state theology that is basically the same. >> does the matter which candidates wins then or do you think we're headed
we know that the election is about the economy. it is about, you know, two different visions in terms of an obama plan that basically suggests raising taxes on the wealthy, you know, to lower the deficit and romney plan that suggests tax reform that ultimately will produce higher growth. you know, i'm not so sure that either one of those have been detailed specifically so that voters understand, but, nonetheless, that's what tuesday is all about. >> earlier this week, bill, you spoke to...
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the economy is going? >> it has not healed enough, when you take into fact we spent $4.5 trillion in deficit recovery,. >> and an improvement ratio? >> not improving. >> not on that path. >> it's not on that path. >> is it an aberration? >> bureau of labor stats on this. have you requested them? >> yes, they don't tell you a lot of things. like the labor force participation rate. which has dropped toyorelatively low numbers, which makes the unemployment numbers lo better. >> in hindsight, when he critizes the last month's report. >> last month in crthe last month's report, the only reason that number got better was 582 people thousand left e the calculation, and went to work on a part-time basis, so the part-time jobs got better, bu we did not, they took these people out of ofthe denominator. >> those numbers are not that -- >> nay says finish? >> we're being accurate. >> i would say that's the nay-ers. if you look at the economy, nayu could see consumer confidence s the highest it's been. we've had steady
the economy is going? >> it has not healed enough, when you take into fact we spent $4.5 trillion in deficit recovery,. >> and an improvement ratio? >> not improving. >> not on that path. >> it's not on that path. >> is it an aberration? >> bureau of labor stats on this. have you requested them? >> yes, they don't tell you a lot of things. like the labor force participation rate. which has dropped toyorelatively low numbers, which makes the...
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i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. lou: the final jobs report before the presidential election showing little progress made during the president's first term. we will take that up with former congressional budget office director, douglas holds a can in just moments. in that the moneyline, the economy created 171,000 at jobs last month, good, but not good enough. the unemployment rate rising. concern on wall street about economic growth coupled with anxiety about an election that is now four days away, pushg stock prices lower on the day, the dow down 139 points, nasdaq down 38, s&p ost 13. a broad based sell-off, declining stocks,eading advancers by about 2-1. volume slightly heavier than average. a storm-shortened week of trading as well. markets closing monday and tuesday. markets ending the week virtually flat with the dow d
i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way. who matters most to you says the most about you. massmutual is owned by our policyholders so they matter most to us. massmutual. we'll help you get there. lou: the final jobs report before the presidential election showing little progress made during the president's first term. we will take that up with former congressional budget office director, douglas holds a can in just moments....
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or leader to the economy in a government role. is that what we are seeing, a mismatch? >> that is a problem for mitt romney. this is the republicans best argument, reality based, identifying a problem that we are all experiencing. it is a very real problem. it is not one the president can dispute. it is their best argument. john dewey always said, a problem well-stated is a problem half-solved. we do agree, we must agree that the jobs crisis is one of the core policy choices of the era we are live willing in and perhaps for some time. that's number one. number two goes back to the segment we just did on romney. what does the romney era look like? there, i have to echo neera. what is your solution to the problem? you just played the five points. they do not deal with domestic spending in a way that most economists think will jump-start jobs. republicans have some economists and studies on their side. there are studies out that show what the republicans have managed to do with the power they are wielding has actually raised unemploy
or leader to the economy in a government role. is that what we are seeing, a mismatch? >> that is a problem for mitt romney. this is the republicans best argument, reality based, identifying a problem that we are all experiencing. it is a very real problem. it is not one the president can dispute. it is their best argument. john dewey always said, a problem well-stated is a problem half-solved. we do agree, we must agree that the jobs crisis is one of the core policy choices of the era we...
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the economy in free fall. you know, moderates creeing, we're not where we want to be, status quo is not desiredded, but relative to where we were four years, 2% growth now versus negative 8, that's a good direct you want to be in. this is typical of financial crisis. it's different than other kinds of cyclical recessions. look at the reagan recession of 82, for example, and say, that really bounced back within a year, growth shot up in 83 so obama's policies has to be worse than reagans because it's taking longer. it's a different recession. there's a credit crunch, hard to get credit, get the financial sector up and running again, traditionally, those take a long time to dig out of it. great depression, for example, you know, took years to get out of, but fdr came in with unemployment at 25% by the end of the first term, more like 17, people said, hey, that better than we were. keep going in this direction. what we have with the recovery act is a response, a bottom-up response from the public. we need governm
the economy in free fall. you know, moderates creeing, we're not where we want to be, status quo is not desiredded, but relative to where we were four years, 2% growth now versus negative 8, that's a good direct you want to be in. this is typical of financial crisis. it's different than other kinds of cyclical recessions. look at the reagan recession of 82, for example, and say, that really bounced back within a year, growth shot up in 83 so obama's policies has to be worse than reagans because...
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the main one is to continue to accelerate the economy and grow jobs. in order to do that, we have to have a congress that knows how to work together. i learned some valuable lessons as mayor and governor. one started here on this campus. in 2008, we were going through what became the worst recession in 75 years. your president, and other university leaders, came and said, times are tough. why do we not do a construction campaign on the state colleges? there was an idea to build a virginia tech school of medicine. i worked together and by the end of it, we did a $1.4 billion -- that is to revitalize the roanoke economy. it was about jobs, public, private partnership, education, infrastructure. i have a long jobs plan. i just summarize it. democrats and republicans have to work together. that is what is needed in washington. that is how i have governed. that is the u.s. senator i will be if you send me and i have a chance to serve. >> thank you. >> thank you for watching. susan and i have been listening to the people of virginia. they want leaders to wor
the main one is to continue to accelerate the economy and grow jobs. in order to do that, we have to have a congress that knows how to work together. i learned some valuable lessons as mayor and governor. one started here on this campus. in 2008, we were going through what became the worst recession in 75 years. your president, and other university leaders, came and said, times are tough. why do we not do a construction campaign on the state colleges? there was an idea to build a virginia tech...
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the ation's economy, it is all but stagnant. this has governor romney running l as the candidate of change. >> accomplishing change is not just something i talked about. it is something actually done, and we need to have someone in the white house who cannot just talk about it, but do it. lou: the most recent poll of ohio mirrors those tight national polls. rasmussen reports showing governor romney tied with president obama at 49%. nationally the dead heat can be seen across a white canvas of polls. the real clear politics bulbuls has the two men separated tonight by a mere tenth of a percenge point to. the rasmussen reports daily tracking poll has the race at 48%. the abc ashington post tracking poll shows the governor taking a one point lead after trailing b one yesterday. those of the two most recent national polls. and while the polls are tight, they are not always accurate or indicative of the of come. either candidate could win this election by a sizable margin, if you considea sizable margin to be two or 3 percent, perhap
the ation's economy, it is all but stagnant. this has governor romney running l as the candidate of change. >> accomplishing change is not just something i talked about. it is something actually done, and we need to have someone in the white house who cannot just talk about it, but do it. lou: the most recent poll of ohio mirrors those tight national polls. rasmussen reports showing governor romney tied with president obama at 49%. nationally the dead heat can be seen across a white...